Julius Baer eyes 10% more private bankers this year
Julius Baer, the Swiss private bank, is set to increase headcount by 10% in 2008, after an aggressive bout of hiring and the launch of several new offices this year.
The Zurich-based bank, which said it had not suffered any losses as a result of the credit crunch and reported strong inflows into its wealth management unit, is chasing new clients through adding relationship managers.
At a Goldman Sachs investor relations conference yesterday, Julius Baer's chief financial officer Dieter Enkelmann reiterated the bank's target to hire up to 60 relationship managers over the course of this year. This will bring total headcount to over 600 across Europe, the US and Asia.
Over the last two years the bank has brought in a net 180 private bankers, crucial to its winning "significant" net new client assets in the first four months of the year, it said last month.
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